Insurance Business Insurance broker charged with $540,000 commission fraud

Insurance broker charged with $540,000 commission fraud A former insurance broker in southern Alberta has been charged with defrauding his employer of more than $540,000 over a period of almost nine years.

Police in Lethbridge say an investigation began last October after an employee at Schwartz Reliance noted discrepancies in accounts managed by one of the partners.

Investigators allege that between January 2008 and last September someone created fake accounts and altered existing accounts to generate higher commissions for personal gain.

Police say no clients suffered any losses.

Stephan James Evanson, who is 36 and from Stirling, Alta., is charged with fraud over $5,000 and money laundering.

He has been released from custody and is to appear in court on March 27.

Schwartz Reliance is one of the largest privately owned independent general agencies in Alberta, and has a history going back to 1927.

Canadian Press with extra reporting by Insurance Business staff writers.

The Canadian Press

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